Put the water, sugar and half the cinnamon into a saucepan and cook over moderate heat, stirring constantly until the sugar has dissolved. Cook the mixture without stirring for 5 minutes.

Meanwhile, melt the butter in a large frying-pan. Add the bread cubes and fry gently until they are evenly browned. Remove from the heat and stir into the syrup mixture. Stir in the raisins, walnuts and cheese and simmer gently until the ingredients are thoroughly blended.

Preheat the oven to fairly hot 190oC (Gas Mark 5, 375°F).

Turn the mixture into a well-greased ovenproof baking dish and sprinkle over the remaining cinnamon. Put the dish into the oven and bake for 15 to 20 minutes, or until the pudding has set and is golden brown. Remove from the heat and serve warm, with the cream.